Business Recorder articles from December 2011, page 7

Business Recorder archives from December 2011

Railways to get Rs 6.1 billion next week.
December 28, 2011... Byline: TAHIR AMIN Pakistan Railways (PR) will receive Rs 6.1 billion next week to overcome its current crisis. This was stated by Railways Minister Ghulam Ahmad Bilour. Exclusively talking with Business Recorder on Tuesday, he said that the...

Bears dominate ISE.
December 28, 2011... Byline: RECORDER REPORT Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 16.45 points, as the Index...

Unlisted term finance certificates: SECP approves reporting of trades.
December 28, 2011... As part of the Securities and Exchange Commission of Pakistan (SECP) efforts to promote the debt capital market in Pakistan, amendments have been approved to the regulations of National Clearing Company of Pakistan Limited (NCCPL), providing for...

Cotton business stakeholders' meeting today.
December 28, 2011... Byline: SEEMA SHAFI, FARRUKH JAMAL PASHA & ASMA RAZAQ A meeting of stakeholders of cotton business will be held in Karachi on Wednesday to discuss the problems being faced by ginners and growers after a continuing fall in cotton and...

1.6 million NTN holder non-filers to face legal action: FBR.
December 28, 2011... Byline: SOHAIL SARFRAZ The Federal Board of Revenue has decided to take a legal action against the non-filers of income tax returns particularly nearly 1.6 million National Tax Number (NTN) holders for the Tax Year 2011 from January 2012. ...

Oil and gas production begins from Nashpa II.
December 28, 2011... Production of 5,000 barrels of oil per day has started from Nashpa II, being operated and developed by Oil & Gas Development Company (OGDC) in district Karak of Khyber Pukhtoonkhwa. According to information reaching stock market on Tuesday,...

Major uplift projects approved for Rahim Yar Khan.
December 28, 2011... The federal government has approved huge funds for a number of development projects, including a flyover, farm to market roads and construction of Allama Iqbal Open University (AIOU) regional campus This was stated by MNA Chaudhry Javed Iqbal...

MEEZAN BANK LIMITED.
December 28, 2011... Standing on a total asset base of Rs 179 billion as of September 30, 2011, Meezan Bank (MEBL) is the country's largest Islamic bank and the seventh largest mid-sized commercial bank. Operating through a network of 235 branches, the bank provides...

PHP nabs 12 culprits.
December 28, 2011... Byline: RECORDER REPORT Punjab Highway Patrol (PHP) arrested 12 culprits and seized a large number of wine bottles, stolen goods and unlicensed weapon. According to details, during routine patrolling, PHP team Rafiqueabad and Layyah recovered...

Gas supply suspension: LCCI fears massive layoffs in industry.
December 28, 2011... Byline: RECORDER REPORT The Lahore Chamber of Commerce and Industry on Tuesday feared massive layoffs in the industry in the wake of gas suspension and urged the government to reverse the decision without any further delay for the sake of...

PEF adopts mechanism to curb corporal punishment.
December 28, 2011... Byline: RECORDER REPORT Punjab Education Foundation has adopted institutional mechanism to eradicate corporal punishment from its partner schools in the province so that the students could learn without fear. PEF Director Monitoring &...

Low pressure gas being supplied to textile industry.
December 28, 2011... Byline: HAMID WALEED Extremely low gas pressure is being supplied to textile industry in order to create an excuse of curtailing supply for one month, said industry sources. Talking to Business Recorder, the industry circles said, "The SNGPL...

Power shortfall increases to 5,000MW.
December 28, 2011... Byline: M RAFIQUD GORAYA The electricity shortfall between demand and production has shot up to 5,000 MW owing to sharp drop in the hydel power generation after substantial reduction in water outflows from the Tarbela and Mangla dams to pave...

By-election for PP-18 announced.
December 28, 2011... The Election Commission of Pakistan (ECP) on Tuesday announced by-polls election on the recently vacated Provincial Assembly seat PP-18, Attock-IV. The elections will be held on February 6. The seat fell vacant after the resign of Pakistan...

IIUI to hold all Pakistan inter-university debate.
December 28, 2011... The International Islamic University Islamabad (IIUI) will arrange "14th All Pakistan Inter-University Debate Contest" for awarding of Allama Iqbal Shield at regional level on December 28. Dr Mumtaz Ahmad, President IIUI, would preside over the...

Nawaz says will expose BB's killers after coming to power.
December 28, 2011... Byline: AMJAD ALI SHAH President, Pakistan Muslim League-Nawaz (PML-N), Nawaz Sharif, on Tuesday reiterated his resolve to expose the killers of Benazir Bhutto after coming into power. Regarding memogate scandal, Nawaz said that the issue was...

LCCI urges FBR to withdraw decision to implement SRO.
December 28, 2011... Byline: RECORDER REPORT The Lahore Chamber of Commerce and Industry has urged the Federal Board of Revenue to withdraw decision to implement SRO 821(I) 2011 as it is unrealistic and unjustified and any attempt to implement it would be...

Provision of basic amenities: 'comprehensive programme being implemented'.
December 28, 2011... Byline: RECORDER REPORT Punjab Chief Minister Muhammad Shahbaz Sharif has said that public service is the mission of the Punjab government and it has practically proved that only the masses have the right over national resources. He was...

Lahore braves coldest night of current season.
December 28, 2011... Byline: RECORDER REPORT The provincial capital experienced the coldest night of the current winter season where the mercury fell to 0.4 Celsius degrees on Monday night. According to the Pakistan Meteorological Department Lahore on Tuesday,...

Narcotics seized in Chagai.
December 28, 2011... Anti-Narcotics Force on Tuesday recovered 460 kilogram narcotics from Talab area. ANF sources told newsmen that acting on a tipoff, an ANF Dalbandin team headed by Cap. Aataullah raided a house in Talab, an area along Pak-Iran border and...

PPP's inability to arrest BB's killers questioned: PML-N 15-point questionnaire released.
December 28, 2011... Byline: RECORDER REPORT Pakistan Muslim League-Nawaz on Tuesday questioned Pakistan Peoples Party's inability to arrest killers of its slain chairperson Benazir Bhutto. In a 15-point questionnaire, released by the party's central media cell,...

Rs 54.4 billion allocated in FY 2011-12 to generate more electricity.
December 28, 2011... Byline: HASSAN ABBAS Though the whole country has been making hue and cry and economy melting down during the past three years, yet the Federal government was not bothered as it allocated only Rs 54.4 billion in the FY 2011-12 budget to...

Four-day gas closure for industries: Govt urged to take remedial measures.
December 28, 2011... Byline: RECORDER REPORT The Lahore Township Industries Association (LTIA) has urged the government to take corrective measures as four-day gas closure to industrial sector and repeated power outages have blurred local investment scenario that...

Government may withstand all odds due to clueless opposition.
December 28, 2011... Byline: ZULFIQAR AHMAD & ALI HUSSAIN Despite the multiple controversies, the government may succeed in its long fight to survive, as major opposition political parties including PML-N are clueless how to uproot the incumbent government...

Four members of a family die due to suffocation.
December 28, 2011... Byline: RECORDER REPORT Four members of a family died due to suffocation, which was caused by a coal stove apparently they left burning before going to sleep, police said. According to the police, the victims, who include a mother, two sons...

PTCL launches new SMS service.
December 28, 2011... Pakistan Telecommunication Company Limited (PTCL) has launched a unique customer complaint registration service via mobile SMS for its valued landline and broadband customers. Customers can now register a complaint in five easy steps: Step...

Attock Refinery wins UN award.
December 28, 2011... Attock Refinery Limited has been awarded "Living the United Nations Global Compact Responsible Business Award 2011" in the Large National Category. Didier Boschung, Consul General of Switzerland in Pakistan, who was the chief guest on the...

E-system for disbursement of Zakat: Sindh government fails to introduce Benazir Muawinat Card.
December 28, 2011... Byline: RECORDER REPORT Sindh government could not introduce 'Benazir Muawinat Card' for Zakat beneficiaries of the province despite the passage of more than four months, Business Recorder has learnt on Tuesday. On the directives of...

Government delaying gas import from Iran: PEW.
December 28, 2011... The Pakistan Economy Watch (PEW) on Tuesday said the government had been purposely delaying gas import from Iran just to please the US, which is damaging Pakistan's economy. President PEW, Dr Mughal said incompetent officials in the government...

Abbottabad Commission meets.
December 28, 2011... A meeting of the Inquiry Commission on Abbottabad Operation was held here on Tuesday in the Cabinet Division under the Chairmanship of former justice Javed Iqbal. The meeting was attended by members of the Commission Ashraf Jehangir Qazi and Lt...

Egyptian envoy assures support in energy sector.
December 28, 2011... Federal Minister for Petroleum & Natural Resources Dr Asim Hussain has said that Pakistan has always welcomed the co-operation extended by Egypt in various sectors of the economy. Hindam assured that the Government of Egypt would extend all...

Mirza Ghalib's 215th birth anniversary observed.
December 28, 2011... The 215th birth anniversary of Mirza Asadullah Khan observed on Tuesday. Renowned Urdu and Persian poet of the subcontinent, Dabeer-ul-Mulk, Najm-ud-daulah Mirza Asadullah Baig Khan, pen-name Ghalib, was born on December 27, 1797 in Indian city...

Rs 22.5 billion released for BISP in July-December period.
December 28, 2011... Byline: RECORDER REPORT The Ministry of Finance has released Rs 22.5 billion for the Benazir Income Support Program (BISP) in the first half of the current fiscal year against total budgetary allocation of Rs 50 billion. Sources told Business...

'HDIP not taken step to check unsafe cylinder'.
December 28, 2011... Government will compensate to the people expired due to gas cylinder blast. Use of CNG in public transport will completely be banned. For not examining the sub standard cylinder cases will be registered against responsible staff of Hydrocarbon...

Interest-free loan scheme for artisans launched.
December 28, 2011... Byline: RECORDER REPORT The Department of Culture, Khyber Pakhtunkhwa on Tuesday formally launched interest-free loan scheme for traditional artisans to promote their art and create employment and economic opportunities in the province. ...

ACCA's third international public sector conference held in London.(Conference notes)
December 28, 2011... "Audit and financial management adding public value" was the theme of ACCA's (the Association of Chartered Certified Accountants) third international public sector conference held recently in London. The conference was organised to draw out...

BIEK notification.
December 28, 2011... Byline: RECORDER REPORT Board of Intermediate Education Karachi (BIEK) will announce the result of HSC Part-I Humanities Private Group for the Annual Examination 2011, on Wednesday (today). Copyright 2011 Business Recorder

Nato attacks: JI leader shocked over US report.
December 28, 2011... Naib Amir of Jamaat-e-Islami Pakistan Senator Professor Khurshid Ahmad has expressed his shock on the investigation report made public on Tuesday by the US Central Command on the unprovoked and arrogant attack on Salalah check posts of the...

Partly Facetious: Zardari is not going to vacate his seat!
December 28, 2011... Byline: ANJUM IBRAHIM "I have always liked musical chairs, wonder if you know the game...there is one less chair than the player which means that when the music is stopped the seatless player is out. And before you say anything let me say...

Women pay tributes to BB.
December 28, 2011... "Benazir Bhutto Shaheed is our role model and her struggle for democracy will be carried on to pave way for an egalitarian society", said women paying tribute to Shaheed Prime Minister, Benazir Bhutto on her fourth death anniversary. Talking...

Punjab Assembly offers fateha for BB.
December 28, 2011... Byline: JALIL HASSAN AKHTAR In the 32nd session of Punjab Assembly on Tuesday fateha was offered for Banazir Bhutto. Law Minister Sanaullah o PML-N said that his party, for supremacy of parliament, would cooperate with any party, including...

Call to expose BB's killers.
December 28, 2011... Byline: RECORDER REPORT Pakistan Peoples' Party activists have vowed to accomplish the mission of Shaheed Benazir Bhutto and demanded for exposing the killers of slain party leader, who gave her life for supremacy of democracy. They said that...

'Benazir defeated dictatorial forces through democratic struggle'.
December 28, 2011... Khyber Pakthunkhwa Minister for Excise and Taxation, Liauqat Shabab said on Tuesday that Benazir Bhutto Shaheed was the only statesman of the world, who defeated dictatorial forces through her democratic and constitutional struggle and never...

PPP to follow its manifesto regarding Bhutto case: Babar.
December 28, 2011... Central leader of PPP Babar Awan on Tuesday said that Pakistan Peoples Party would follow its manifesto regarding Bhutto reference case and bring the facts at the forefront. Addressing to Chakwal Bar Council, he said no one took initiative to...

Glowing tribute paid to BB.
December 28, 2011... Pakistan People's Party Lahore wing on Tuesday organised various programmes including candlelit service to pay homage to Mohtarma Benazir Bhutto on her 4th death anniversary. All communities in the city paid tribute to the great leader in...

Naek, GB chief minister visit Benazir grave.
December 28, 2011... The Chairman Senate, Farooq H. Naek and CM of Gilgit Baltistan Pir Karam Ali Shah have visited Shaheed Mohtarma Benazir Bhutto's grave on her fourth death anniversary which observed on Tuesday. They have laid floral wreaths and offered Fateha....

Altaf pays tributes to Benazir.
December 28, 2011... Byline: RECORDER REPORT Muttahida Qaumi Movement (MQM) Chief Altaf Hussain has said that Benazir Bhutto was a great leader of Asia who was martyred by the evil forces. In his message on the fourth death anniversary of Benazir Bhutto, Altaf...

Youm-e-Shahadat of BB: LEAs lauded for security arrangements.
December 28, 2011... Byline: RECORDER REPORT The Interior Minister Rehman Malik on Tuesday appreciated Rangers, Sindh Police and local administration for making foolproof and well-organised security arrangements at the Youm-e-Shahadat of Mohtarma Benazir Bhutto...

Gilani offers Fateha at Bhutto family's mausoleum.
December 28, 2011... Prime Minister of Pakistan Yousuf Raza Gilani on Tuesday visited the mausoleum of Bhutto family, offered Fateha for the departed souls of Shaheed Benazir Bhutto, Shaheed Zulfikar Ali Bhutto, Begum Nusrat Bhutto and other members of the Bhutto...

AJK President, PM, GB Governor offer Fateha.
December 28, 2011... President Azad Jammu Kashmir (AJK) Chaudhry Yaqoob and Prime Minister Chaudhry Abdul Majeed including Governor Gilgit-Baltistan (GB) Pir Karam Ali Shah here on Tuesday visited the mausoleum of Bhutto family, offered Fateha for the departed souls...

Rich tributes paid to BB.
December 28, 2011... President PPP Punjab Imtiaz Safdar Warraich paid rich tributes to Shaheed Benazir Bhutto on the eve of her death anniversary and said she had devoted and sacrificed her life for the welfare of Pakistani people. Talking to PTV on Tuesday, he said...

2011 termed worst year for agriculture sector.
December 28, 2011... Byline: ZAHID BAIG Farmers' representatives and agriculturists have termed the current year as the worst ever period for the agricultural sector, which witnessed steep increase in agricultural input prices, levying of General Sales Tax (GST)...

UVAS asked to conduct research on poultry diseases.
December 28, 2011... Byline: RECORDER REPORT Pakistan Poultry Association (PPA) has called upon the University of Veterinary and Animal Sciences (UVAS) to conduct research on diseases affecting poultry and update farmers. The PPA representatives had a meeting...

GCU Library Society's 13th executive body formed.
December 28, 2011... Byline: RECORDER REPORT The 13th executive-body of the Government College University (GCU) Lahore Library Society is formed on Tuesday for the academic session 2010-11. GCU Vice Chancellor Professor Dr Muhammad Khaleeq-ur-Rahman administrated...

Student killed on petty issue.
December 28, 2011... A student was killed on minor dispute at Kotmoman on Tuesday. According to police, Muhammad Azam, student of 4th class was sat at the roof of his house. His neighbours Muhammad Shakeel and Umer Saleem forbade him to sit there and they started...

A positive gesture.
December 28, 2011... It was good to know that while some of the multilateral financial institutions were reluctant to offer assistance to Pakistan due to a variety of reasons, World Bank continues to be actively engaged with the country and had no such inhibitions....

Indeed one good step forward.
December 28, 2011... At a recent session of the Balochistan Assembly, members warmly welcomed a resolution the Punjab Assembly adopted on December 22, calling for an early resolution of the Balochistan crisis and demanding that the killers of Nawab Akbar Bugti be...

Monetary policy and SBP.
December 28, 2011... Byline: DR MUHAMMAD YAQUB Monetary policy is an important component of a macroeconomic policy framework in any country. Similarly, central banks, whatever their level of statutory autonomy, play a key role in the formulation of a...

A symbol of hope.
December 28, 2011... Byline: SHARMILA FARUQUI 'The forces of moderation and democracy must, and will, prevail against extremism and dictatorship. I will not be intimidated. I will step out on the tarmac in Karachi not to complete the journey, but to begin one'.-...

BB Shaheed reversed dictator's moves.
December 28, 2011... Byline: S RAHMAN (VIA EMAIL) The recently launched book by former US Secretary of State, Condoleeza Rice, titled 'No higher honour' 'takes pride' in 'bringing together Musharraf and Benazir Bhutto' for which Ms Rice says she 'toiled for many...

Gold slips to Rs 54,000 per tola.
December 28, 2011... Byline: RECORDER REPORT The price of gold per tola on Tuesday reduced by Rs 100 to Rs 54,600 after global market posted a decline of $7 an ounce in the precious metal price, traders said. The gold was available for Rs 48,885 per 10 grams,...

Dry weather likely today.
December 28, 2011... Byline: RECORDER REPORT The met office on Tuesday said mainly dry weather is expected in most parts of the country in the next 24 hours. "Shallow westerly wave is affecting Northern areas of the country and likely to persist for next 24 to 36...

Ufone's 100 Par 200 offer launched.
December 28, 2011... Once again Ufone has lived up to its reputation of facilitating its consumer base with outstanding value propositions. Ufone, being one of the most affordable telecom providers in the industry has launched '100 par 200' offer through which the...

ICAP's Mazahiya Mushaira.
December 28, 2011... The Southern Regional Committee of the Institute of Chartered Accountants of Pakistan (ICAP) is organising "Mazahiya Mushaira" to be held on Thursday December 29 (tomorrow) at 10:00 pm at Arts Council of Pakistan, Karachi. Anwar Barelvi will...

Addition of new lessons in curriculum: Sindh Education department moves summary to chief minister.
December 28, 2011... Byline: RECORDER REPORT Sindh Education department has moved a summary of new additions in current curriculum to Chief Minister Syed Qaim Ali Shah for the approval, Business Recorder has learnt on Tuesday. The Education department has...

Captain Raja Farhan Ali Shaheed Park inaugurated.
December 28, 2011... A newly constructed park by DHA having modern amenities was inaugurated at a ceremony held here on Monday evening. Administrator DHA Brig. Aamer Raza Qureshi was the chief guest of the function. The park has been named as Capt. Farhan Ali...

Emirates offering exceptional airfare discount.
December 28, 2011... Emirates, one of the world's fastest-growing international airlines, is celebrating the new year by offering exceptional discounts on airfares to more than 100 cities when booking from now until January 9. Customers can save up to 25 percent...

Bicycle snatchers kill man.
December 28, 2011... Unidentified snatchers equipped with arms gunned down a man on Sariab road, when he put resistance to their bid to snatch bicycle, here on Tuesday. The police said that unknown gunmen intercepted Amanullah and tried to snatch his bicycle and...

Meezan Bank to provide long-term financing to Linde Pakistan.
December 28, 2011... Meezan Bank Ltd. and Linde Pakistan Ltd. (formerly known as BOC Pakistan Limited) have entered into a Diminishing Musharakah Agreement for the set-up of a new state-of-the-art Air Separation Plant and related supply chain equipment in by Linde...

Secretary Defence visits CAA Headquarters.
December 28, 2011... Lieutenant General HI (M) Naeem Khalid Lodhi (Retd), Secretary Defence who is also Chairman of PCAA Board, visited Headquarters Civil Aviation Authority (CAA), Karachi on 27th December. According to the Media Co-ordinator PCAA, Ismail Khoso, the...

Degree recognition issue: Veterinary students assured of support.
December 28, 2011... Higher Education Commission has assured the students of BSc (veterinary sciences) of the Arid Agriculture University, Rawalpindi to resolve the issue of their degrees' recognition from Pakistan Veterinary Medical Council. A delegation of the...

APCNGA to start checking CNG kits, cylinders in 25 cities.
December 28, 2011... Byline: ABDUL RASHEED AZAD From Wednesday, the All Pakistan Compressed Natural Gas Association (APCNGA) will start checking CNG cylinders-fitted public service, as well as private vehicles, to identify substandard and unauthorised...

Two fall prey to targeted killing.
December 28, 2011... Byline: RECORDER REPORT A fresh spree of violence claimed two lives in different parts of the metropolis on Tuesday. According to police and rescue sources, a man was shot dead near Sajadia Imambargah Orangi Town in the limits of Mominabad...

Ground breaking of MAL lube plant.
December 28, 2011... The foundation stone of Rs 300 million lube oil blending plant of MAL Pakistan Ltd (formerly Askari Lubricants Ltd) was laid at National Industrial Parks (NIP) in Korangi industrial area. Speaking on the occasion, Managing Director, Army...

Unprecedented number of bank heists leaves LEAs looking for shoulders to put responsibility.
December 28, 2011... Byline: MUHAMMAD ALI The city has witnessed unprecedented number of bank heists in 2011 in which over Rs 60 million was looted from 19 branches of nine private banks during the year. Instead of taking stern preventive measures to avert...

Standard Chartered appoints Naseer as Head of Consumer Banking.
December 28, 2011... Standard Chartered Bank Pakistan announced the appointment of Naseer Hasan as the Head of Consumer Banking. He replaces Aalishaan Zaidi who has moved as Group Head of Branch Management to Standard Chartered Group Distribution in Singapore....

Trade volume remains low on grain market.
December 28, 2011... Byline: RECORDER REPORT Slow business was seen on the wholesale grain market on Tuesday due to easy supply position, dealers said. On the cereal side wheat old and new (bardan) were quoted at Rs 2670-2675 and 2685-2690, respectively, other...

Prices move upwards on cotton market ahead of crucial moot.
December 28, 2011... Byline: RECORDER REPORT Prices continued upward march on the cotton market on Tuesday as most of the buyers grabbed all the floating lots of fine types, dealers said. The official spot rate was raised by Rs 100 to Rs 5,350 by the Karachi...

Oil cake market rates.
December 28, 2011... Byline: RECORDER REPORT Both contracts were unchanged on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The January contract that had ended at Rs 1165.80 commenced with no variation at the same rate. The...

Activity at Karachi and Qasim ports.
December 28, 2011... Byline: RECORDER REPORT The Karachi Port handled 94,485 tonnes of cargo comprising 54,463 tonnes of import cargo and 40,022 tonnes of export cargo including 3,039 loaded & empty containers during last 24 hours ended at 0700 hours on...

'Import of used cars has severely hurt the local industry'.
December 28, 2011... A What are the biggest impediments to auto sector growth? Macro environment has greatly impacted the buying power of our customers such as inflation, depreciating value of rupee against major currencies, etc. An example can be the limited...

Role of Millat Tractors in auto industry.
December 28, 2011... Byline: SIKANDAR MUSTAFA KHAN Millat Group is Pakistan's leading engineering concern in automobile sector and has a history that spans almost half a century. The MILLAT TRACTORS was established in 1964 in the name of Rana Tractors and...

Technical collaboration among SAARC countries.
December 28, 2011... Byline: IFTIKHAR ALI MALIK The regionalization and co-operation among neighbour countries particularly having common borders is getting importance with the uncertainty prevailing over the world about the rising prices of raw materials, POL...

AFC coaching course for women begins.
December 28, 2011... Byline: RECORDER REPORT The IInd AFC 'C' Certificate Coaching Course for Women-2011 commenced here at Football House with 18 women participants attending the beneficial activity, which aims at importing latest knowledge to the participants of...